This is the Current Development of Gold & Crude Oil Commodities

 Gold traded slightly lower in the Asian session on Wednesday morning after gains so far yesterday’s New York session had reached a high of $ 1,745.00.

The upward trend in gold prices has continued since last week, however, the price eased slightly after reaching the resistance level that was tested for several weeks.

The rise in the value of gold was influenced by the depreciation of the US dollar to a 2 -week low following a decline in US treasury yields to 1.63%.

Meanwhile crude oil prices recorded an increase on Wednesday with a positive global growth outlook as well as reports of declining oil inventories of the United States, as the world’s largest consumer of oil.

The International Monetary Fund (IMF) has raised its global economic growth forecast with the expectation of a 6% increase in production for the year.

However, optimism over negotiations between the United States (US) and Iran and expectations of a resumption of oil supplies by producing countries will dampen the current rise in oil prices.

Crude oil, Canada's main export, has pushed the Canadian dollar to depreciate since Tuesday due to the impact of the crude oil market.

GOLD Analysis - Gold Price Rise Blocked At $ 1,745.00 Resistance

 The XAU/USD price chart which measures the value of gold against the US dollar has recorded a jump yesterday to the resistance level at 1745.00.

The rise in gold prices was driven by the weak movement of the US dollar in the market following the decline in US treasury yields which had fallen below the 1.70%level.

Analysts are still optimistic for the price of gold to continue to rise after making a rise since last week from the support level of 1680.00 and recording almost 670 pips of 4 consecutive days.

The price, which also remains above the support level of the Moving Average 50 (MA50), also still signals a bullish trend for gold.

The resistance level at 1745.00 needs to be broken for the price to continue rising towards the SBR zone (support become resistance) 1765.00.

The zone became a price support level in last February trading before prices fell lower in March.

A rise in the price of gold beyond the zone will push the rise higher up to the level of 1800.00.

However, if the price plummets again and moves below the MA50 support level, the decline will re -test the previous 1720.00 price zone.

The next decline will be to the level of 1700.00 and also 1680.00 which is the support zone for the price of gold that was tested since last month.

This Is The Formula Shared By The IMF To Accelerate Economic Growth!

 In the latest statement from the IMF, the Covid-19 pandemic is expected to continue to impact global public debt in 2021. However, the institution argues that speeding up vaccinations is the fastest way to recover public spending.

The 2021 fiscal report states that faster global vaccinations could curb the pandemic from continuing to spread and more than $ 1 trillion in additional global tax revenue could be collected by 2025 for developed countries.

If this can be realized global GDP output could increase by $ 9 trillion, coupled with reopening businesses and hiring.IMF and the World Bank recently urged member states to continue to provide fiscal support for citizens and generate economies up to pandemic under control.

The IMF estimates the government has used about $ 16 trillion in pandemic -related fiscal assistance since March 17. In 2021, the IMF expects fiscal deficits to shrink slightly in most countries, jobless claims to decline and opinions to begin to recover as businesses reopen.

The average budget deficit reaches 11.7% of GDP for advanced economies in 2020, four times the increase compared to 2019. On the other hand, public debt worldwide is expected to reach 99% of GDP in 2021, up 2% from 2020.

For example, the IMF recommends that developed economies use more progressive income, estate and property taxes to help reduce economic disparities.

Really, Can I Buy Startbuck Coffee Using Bitcoin?

 Starbucks CEO Micheal Gavin recently announced a campaign to buy coffee at Starbucks with Bitcoin. In other words, Starbucks customers can make payments for goods using Bitcoin through Bakkt’s digital wallet.

Starbucks, says that about 500,000 people took part in the trial of the service. To use this service, customers are required to download the Bakkt app in the Google Play Store or Apple Store, then pay for coffee using Bitcoin. Gavin plans to expand the offering of crypto services to everyone.

In addition to Starbucks, several other retail stores have reportedly accepted Bitcoin as a payment option through the Bakkt app. Among them are Fiserv, Golfnow and Best Buy. Karl Helbert of Starbucks says with this additional option, customers can take full advantage of their digital assets.

Starbucks to date is the largest coffee shop chain in the world with more than 30,000 locations worldwide. Starbucks ’annual revenue is about $ 26.50 billion.